India Did Not Promise To Reduce The Duty On American Products, The Tone Of The Trump Changed On The Business Agreement At The End Of The Journey
From the day of his visit to India to the time of his return to the US, President Donald Trump has repeatedly expressed displeasure over the high customs duty imposed on American products. He also spoke openly to Indian parties about this, but the fact is that he has not received a firm assurance from India that the tariffs on American products will be cut.
India assured to reduce the growing trade deficit between the two countries but there was no promise to reduce the customs duty. Rather, it was said to bridge the current $ 24 billion trade deficit by increasing energy imports from the US. President Trump had changed his mood slightly before returning to the US on the second day of the visit, as there was no concrete signal from India to reduce the fee.
Before coming to India, he said that we are going to make a very big agreement. While Trump spoke at the press conference on Tuesday evening that he would reach a trade agreement by the end of this year, he was not confident about it.
He said, “India charges the highest on American products in the world.” We have been able to reduce the trade deficit with India from $ 30 billion to $ 24, but this should not happen. We are looking forward to a better deal with India. It should be by the end of the year and if it doesn’t happen then we will do something good. ”
In the same way, if we talk about the joint statement issued by the two countries late at night, then there is no mention of the kind of trade agreement that was created. In it, stating long-term stability in the business and investment sector, it states that, “We have agreed to end the ongoing negotiations soon and the ongoing negotiations on the first phase of the overall bilateral business agreement will also be soon.” Expected to end.
In this way, there seems to be limited business agreement at the moment. According to Indian parties, there is nothing that India is going to reduce duty on some American products on its behalf. Both sides are talking in view of their respective interests.
Import duties on some agricultural products imported from the US may be reduced but the deal will be done only if some Indian products get similar incentives in the US market as well. As far as the reduction of customs duty on American motorcycles is concerned, it has been cut two years ago. Right now there is no such idea.
